Michael Schumacher Net Worth

How much is Michael Schumacher Worth?

Michael Schumacher's Salary

$50 Million

Michael Schumacher net worth and salary: Michael Schumacher is a former German Formula One race car driver who has a net worth of $600 million. Michael Schumacher was born on January 3, 1969 in Hürth, which at the time was part of West Germany. He began racing at a very early age and is today considered to be the most successful Formula One driver of all time. He won the Formula One world driver's championship seven times (1994, 1994, 2000, 2001, 2002, 2003 and 2004). His career spanned from 1991 to 2006 with Jordan Benetton, and Ferrari.

Early Life And Rise: Michael Schumacher was born with speed in his blood. At the age of four his father put a small motorcycle engine in his pedal kart. With his parents support he became the youngest member of the karting club at the Karting track in Kerpen-Horrem. At the age of six Schumacher would win his first club championship. He would continue racing throughout his childhood and teen years, winning many of the championships in German and European kart races. Michael's younger brother Ralf Schumacher. also had a highly successful racing career.

Michael made his Formula One debut in 1991 at the Belgian grand pix. He hit his stride in 1994 when he won six out of seven races. In 1996 he joined the Scuderia Ferrari S.P.A racing team. The team struggled for years to win a championship until the arrival of Schumacher. Michael began winning races for the struggling team practically overnight. This success became especially apparent in 1999 when Michael won the prestigious Constructors title. Though his career was on fire in the late 90s, the next decade would bring another string of highly successful and lucrative wins. Beginning roughly in 2000, Schumacher would go on to win more championships than any other driver in the history of racing. He won the World Championship in 2000 (his third one), Italian Grand Pix, and the Japanese Grand pix. His success would dwindle down around 2005, and in 2006 he announced his retirement. In 2010 he announced a comeback with Mercedes GP.

Tragically, Michael's career was cut short after a skiing accident in December 2013 that left him with a traumatic brain injury. He was in a medically induced coma for six months and has not been seen in public since. In September 2019 Michael was transported to Paris to undergo an advanced stem cell treatment in the hopes that it might help him recover.

Endorsements and Earnings: Michael Schumacher is also one of the highest paid athletes of all time with career earnings that easily surpass $1 billion. At that level of earnings, he is the 5th highest-earning athlete of all time behind Jack Nicklaus ($1.2 billion), Arnold Palmer ($1.7 billion), Tiger Woods ($1.7 billion) and Michael Jordan ($2 billion). Even in years when he was not racing, Schumacher earned $50 million from endorsements alone. At the peak of his career, he was paid $10 million per year by Shell to wear a hat with the company's logo at nearly all public appearances. At his peak he earned $80-100 million per year which was frequently enough to make him the highest-paid athlete in the world. He appeared on Forbes' list of highest paid athletes every year since they began tracking athletes in 1990.

Philanthropy: During his career, Michael donated tens of millions, possibly hundreds of millions of dollars to charity. The exact total amount is not known because much of his giving was done anonymously. It is known that in his last five years of driving he donated a total of $50 million to UNESCO. He also donated $5-10 million to the Clinton Foundation. In 2004 he donated $10 million to help victims of the Indian Ocean earthquake. His lost his bodyguard (and the bodyguard's two sons) from the earthquake and resulting tsunami.

Real Estate: Michael and his wife own an enviable real estate portfolio that spans the globe. At the time of his accident, Michael and his wife Corinna's primary residence was a mansion in Switzerland located on the shores of Lake Geneva. They also own a horse ranch in Texas as he and his wife were both very passionate about horses. In 2018 Michael's wife bought a $40 million property in Majorca, Spain that spans 160,000 square-feet.

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